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Fly News Breaks for February 25, 2019
MATX
Feb 25, 2019 | 06:13 EDT
Stephens analyst Jack Atkins upgraded Matson to Overweight and raised his price target for the shares to $44 from $40. While 2019 will be a transition year, Matson is nearing the end of its Hawaii fleet transition which brings improved efficiency and flexibility to its network, Atkins tells investors in a research note. Further, the transition will yield cost savings in fiscal 2020 and increased operating leverage, adds the analyst. He views Matson as a "defensive name" with "compelling" EBITDA and cash flow growth potential.
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